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SCRANTON, Pa., Feb. 1, 2021 /PRNewswire via COMTEX/ —
SCRANTON, Pa., Feb. 1, 2021 /PRNewswire/ — Peoples Economical Services Corp. (“Peoples”) (NASDAQ: PFIS), the bank keeping enterprise for Peoples Security Financial institution and Trust Company, announced today that its board of directors has authorized a stock repurchase approach furnishing for the purchase of up to 4.9 p.c its excellent shares common inventory, or 353,422 shares. The timing, value and quantity of repurchases will be dependent on marketplace problems, related securities regulations and other things. The inventory repurchases may be designed from time to time on the open industry or in privately negotiated transactions. The inventory repurchase method does not have to have Peoples to repurchase any distinct amount of shares, and Peoples might terminate the repurchase software at any time. As of the date of this launch, Peoples has approximately 7,212,702 shares of widespread stock superb.
Peoples Economic Providers Corp. is the dad or mum firm of Peoples Security Bank and Believe in Corporation, a group financial institution serving Bucks, Lackawanna, Lebanon, Lehigh, Luzerne, Monroe, Montgomery, Northampton, Schuylkill, Susquehanna, and Wyoming Counties in Pennsylvania and Broome County in New York via 26 places of work. Each and every business office, interdependent with the community, offers a complete array of financial items and providers to individuals, enterprises, not-for-financial gain organizations and authorities entities. Peoples’ organization philosophy includes presenting direct access to senior administration and other officers and giving helpful, knowledgeable and courteous company, local and timely decision generating, adaptable and sensible working processes and continually used credit score policies.
Harmless Harbor Forward-Looking Statements:
We make statements in this press launch, and we might from time to time make other statements with regards to our outlook or anticipations for long term financial or operating success and/or other issues about or influencing Peoples Fiscal Solutions Corp. and Peoples Stability Bank and Have faith in Enterprise (collectively, “Peoples”) that are regarded “forward-wanting statements” as outlined in Part 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. These types of ahead-hunting statements may well be discovered by the use of these words as “feel,” “count on,” “foresee,” “ought to,” “prepared,” “estimated,” “intend” and “prospective.” For these statements, Peoples promises the security of the statutory safe harbors for ahead-wanting statements.
Peoples cautions you that a selection of important aspects could result in true effects to differ materially from all those currently anticipated in any ahead-seeking assertion. These types of elements contain, but are not confined to: prevailing economic and political ailments, significantly in our marketplace place the unfolding COVID-19 disaster and the governmental responses to the crisis credit score threat affiliated with our lending pursuits alterations in curiosity rates, bank loan demand from customers, true estate values and levels of competition adjustments in accounting ideas, policies, and recommendations variations in any applicable regulation, rule, regulation or observe with respect to tax or lawful problems our skill to determine and deal with cyber-protection challenges and other financial, aggressive, governmental, regulatory and technological elements impacting Peoples’ functions, pricing, solutions and solutions and other factors that could be explained in Peoples’ Annual Reports on Form 10-K and Quarterly Studies on Kind 10-Q as submitted with the Securities and Exchange Commission from time to time.
In addition to these dangers, acquisitions and organization mixtures, current risks other than all those presented by the character of the company obtained. Acquisitions and business enterprise combos may perhaps be substantially far more highly-priced to comprehensive than originally anticipated, and the expected positive aspects could be appreciably harder-or acquire lengthier-to reach than expected. As regulated money establishments, our pursuit of beautiful acquisition and organization blend prospects could be negatively impacted by regulatory delays or other regulatory issues. Regulatory and/or lawful difficulties associated to the pre-acquisition operations of an acquired or combined business enterprise may well cause reputational hurt to Peoples next the acquisition or blend, and integration of the acquired or put together small business with ours may well end result in added long term expenses arising as a result of people concerns.
The ahead-seeking statements are built as of the day of this launch, and, other than as may possibly be demanded by applicable regulation or regulation, Peoples assumes no obligation to update the ahead-looking statements or to update the explanations why real effects could differ from individuals projected in the forward-hunting statements.
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Source Peoples Monetary Products and services Corp.
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